It would have been appropriate if Peter Esho also gave an example of what fiscal response they could give.

Maybe we could print a trillion dollar coin and deposit it in US treasuries....or any measure no matter how stupid to get the AUD buying 90 or below USD to give exporters a chance.

Commenter

Opinion Only

Location

Melbourne

Date and time

January 16, 2013, 2:29PM

Trillion dollar coin is so 'last week'.Might as well mint quadrillion dollar coin, to keep us going a bit longer.

Commenter

Robert

Location

Brisbane

Date and time

January 16, 2013, 3:56PM

"China's steel industry is facing a problem of overcapacity, with steel prices at 1994 levels, a senior official said. The steel industry is facing an increasingly difficult time, and the surplus capacity is worsening," said Zhang Changfu, secretary-general of the China Iron & Steel Association, at an annual meeting organized by mysteel.com, a steel industry website."

Alan Kohler mentioned on ABC news last night that the iron ore spot price rise was due to speculation by traders because it isn't supported by the contract price or the price of other commodities.

Expect a plunge in the spot price soon.

Oh and FMG short at 5.00 well in the money.

Commenter

Allan

Location

Prahran

Date and time

January 16, 2013, 12:26PM

you've been calling for a fall in the spot price for a while haven't you...

Commenter

Seriously...

Date and time

January 16, 2013, 4:16PM

Great to see the market is moving up; I just got this funny feeling it's early 2011 deja vu over again. Back down we go in a couple of months.

Commenter

Dan

Location

Sydney

Date and time

January 16, 2013, 11:04AM

Want to see it go down again ? Just wait until I jump back in again.

Commenter

4500

Location

The New Black

Date and time

January 16, 2013, 12:50PM

"The data was confirmed by the Australian Bureau of Statistics (ABS) showing only 1,383 loans for first-home buyers were approved in November last year.

This is the lowest ABS figure since February 1992, Burney says."

Gee bubble prices seem to be turning FHB's off buying property.

What will that do to house prices?

Commenter

Allan

Location

Prahran

Date and time

January 16, 2013, 10:08AM

Back down we go just like every other day

Commenter

Jonaze

Location

Sydney

Date and time

January 16, 2013, 9:49AM

Which index are you looking at?

Are you Optimists alter ego?

Commenter

cranberry

Date and time

January 16, 2013, 10:58AM

Quite the Opposite actually! Nice to see isn't it Jonaze. Hi Cranberry look I regret to inform you that poor Jonaze has not had the staying power since June last but by all means encourage him.